Salmon Arm Savings And Credit Union

What Salmon Arm Savings And Credit Union does

Salmon Arm Savings and Credit Union (SASCU) is a member-owned cooperative financial institution founded in 1945 and headquartered in Salmon Arm, British Columbia, serving personal and business members across the Shuswap region through five physical branches in Salmon Arm (Downtown and Uptown), Sicamous, Sorrento, and Enderby. It operates as a credit union under BC legislation with deposits 100% guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), and is governed by a member-elected Board of Directors. The product portfolio spans personal and business chequing and savings accounts, residential and commercial mortgages, personal and business loans, lines of credit, Collabria Mastercard credit cards, term deposits (including the Community Impact Term Deposit launched in April 2025), registered plans (TFSA, RRSP, RRIF, FHSA), mutual funds, and wealth advisory through SASCU Wealth plus integrated partner platforms (QTrade Direct Investing, QTrade Guided Portfolios, Credential). Insurance offerings — home, auto, life, travel, business, and farm — are delivered through SASCU Insurance Services Ltd., a wholly-owned subsidiary.

The technology foundation is a multi-channel digital banking platform comprising web-based online banking and native iOS/Android mobile applications, secured by 128-bit SSL encryption, mandatory 2-step verification with device binding, biometric login (Face ID/Fingerprint ID), and self-serve password reset powered by TransUnion authentication. Member-facing features include Interac e-Transfer with scheduled/recurring capability, remote cheque deposit via Deposit Anywhere, mobile wallet tokenization across Apple Pay, Google Pay, and Samsung Pay, partner account linking with QTrade, Credential, and Collabria (with single sign-on where supported), and self-serve international money transfers via AFL/Agility Forex with FINTRAC-regulated delivery in 1–2 business days. The supporting infrastructure provides access to 4,500+ surcharge-free ATMs in Canada through EXCHANGE and ACCULINK, plus 40,000+ Allpoint ATMs in the United States, and an extended-hours contact centre (Mon–Fri 8am–8pm, Sat 8am–4pm).

SASCU's business model is the standard credit union net interest income model, generating revenue primarily from interest rate spreads on mortgages, personal and commercial loans, and lines of credit, with secondary streams from banking service fees, Collabria credit card interchange and interest, insurance commissions through SASCU Insurance Services Ltd., and investment/wealth advisory fees via partnerships and SASCU Wealth. Member acquisition is community-led, combining relationship banking at branches, financial education programs, community events, referrals, sponsorships, and an extensive community giving program (donations, grants, Community Crew volunteers, Community Impact Term Deposit proceeds to community halls) that doubles as a brand-building moat. The customer base spans personal/consumer members, small-to-medium businesses (including farms), youth members, seniors, and community organizations, all concentrated within the Shuswap region of British Columbia.

Name

Salmon Arm Savings And Credit Union

Legal name

Salmon Arm Savings and Credit Union

Website

https://sascu.com

Company type

Private

Founded year

1945

Operating status

Operating

Headcount range

101–250 employees

Short description

SASCU is a member-owned cooperative credit union founded in 1945 in Salmon Arm, British Columbia, providing personal and business banking, lending, investment, and insurance services across the Shuswap region via five branches and digital channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Salmon Arm

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: The primary revenue stream for credit unions, generated from mortgages, personal loans, business loans, and lines of credit. SASCU offers various loan products including residential mortgages, home equity lines of credit, personal loans, and business financing. Interest rate spreads between what is paid to depositors and charged to borrowers constitute the core economics.
2. Deposit Interest Expenses: SASCU pays interest on member deposits including savings accounts, chequing accounts, term deposits/GICs, TFSAs, RRSPs, and RRIFs. The difference between loan interest earned and deposit interest paid drives profitability.
3. Banking Service Fees: Fees charged for various banking services including wire transfers, e-Transfer fees for transfers under $500, excess transaction fees, overdraft charges, and account service fees. Some services like Interac e-Transfers are free for personal accounts.
4. Credit Card Revenue: Revenue generated from Collabria Mastercard credit cards including interchange fees, interest charges on balances, and annual fees. Credit cards are offered to both personal and business members.
5. Insurance Products: SASCU Insurance Services Ltd. offers home, property, travel, life, and auto insurance products through their insurance team, generating commission revenue.
6. Investment Products: Revenue from investment products including mutual funds, managed portfolios through QTrade and Credential partnerships, and term deposits. Advisors may earn commissions or fees on investment products sold.
7. Market-Linked Term Deposits: Enhanced Return and Canadian Diversified Market Linked Term Deposits (MLTDs) that offer returns based on portfolio performance with guaranteed minimum returns

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

SASCU is a member-owned cooperative credit union providing a full range of retail and small-business banking, lending, investment, and insurance products to members in the Shuswap region of British Columbia. Products are delivered through five physical branches, a 24/7 online banking platform, iOS and Android mobile apps, a contact centre with extended hours, and surcharge-free ATM networks across Canada and the United States. The institution supplements proprietary offerings with third-party integrated services for investments (QTrade, Credential), international transfers (AFL), and credit cards (Collabria Mastercard).

Product overview

SASCU is a credit union providing comprehensive financial services through a multi-channel platform combining branch banking, digital channels, and third-party integrations. The core banking product suite encompasses personal and business chequing/savings accounts, credit cards, mortgages, personal and business loans, and lines of credit. Investment services are delivered through both proprietary SASCU Wealth advisory and integrated third-party platforms including QTrade Direct Investing, Qtrade Guided Portfolios, and Credential investment accounts. Insurance offerings include home, travel, life, auto, business, and farm insurance. Digital banking capabilities center on Online Banking and Mobile App platforms with extensive self-service features, integrated with Interac for e-Transfers, AFL International Transfers for foreign exchange, mobile wallets (Apple Pay, Google Pay, Samsung Pay), and CRA Direct Deposit. The Community Impact Term Deposit represents a unique product bundling financial returns with philanthropic community investment. Additional tools include the Financial Health Score calculator, direct deposit services, coin counting, and a Community Support Program offering grants to local organizations.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Chequing Accounts Personal chequing account products for individual members, including Kudos Chequing with tiered interest based on balance levels.
• Personal Savings Accounts Multiple personal savings account options including Plan 24 Savings (0.10% on all balances), Investor Savings (0.50% for $0-$4,999 and 0.75% for $5,000 and over), and Platinum Plan 24 Savings.
• Personal Credit Cards SASCU Collabria Mastercard credit cards for personal members, integrated with mobile wallet support and viewable and manageable within online and mobile banking.
• Debit Mastercard SASCU debit card with Interac Flash functionality, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), and Lock'N'Block card management features for personal and business members.
• Personal Loans Personal lending products for various needs including auto loans, student loans, and general purpose financing for individual members.
• Mortgages Residential mortgage products including new mortgages with up to $5,200 cash back on eligible mortgages, mortgage renewals, and Home Equity Lines of Credit for personal members.
• Personal Lines of Credit Personal revolving credit lines providing flexible access to credit based on equity and creditworthiness.
• Term Deposits Fixed-term investment products including non-redeemable, redeemable, cashable, Rate Riser, and Market-Linked Term Deposits with terms from 18 months to 5 years.
• Registered Plans Tax-advantaged registered accounts including TFSAs, RSPs, RRIFs, and FHSAs for retirement and savings purposes for individual members.
• Mutual Funds Pooled investment funds managed by professional fund managers, available through SASCU's investment services.
• Personalized Investing Bespoke investment advisory service providing personalized investment recommendations and portfolio management tailored to individual financial goals.
• QTrade Direct Investing Self-directed investing platform integrated with online banking, allowing members to manage their own investment portfolios with access to markets and research tools.
• Qtrade Guided Portfolios Professionally managed portfolios offering hands-off investment management with diversified holdings aligned to investor risk tolerance.
• SASCU Wealth Comprehensive wealth management service offering personalized financial planning, investment management, and advisory services.
• Community Impact Term Deposit Limited-time 3-year non-redeemable term deposit celebrating SASCU's 80th anniversary. Offers 3.30% interest rate with SASCU donating 0.25% of total invested funds to community halls in the Shuswap region.
• Home & Property Insurance Insurance coverage for homes, condos, and rental properties protecting against property damage, liability, and related risks.
• Travel Insurance Travel insurance products covering trip cancellations, medical emergencies, and travel-related disruptions for members traveling domestically or internationally.
• Life Insurance Life insurance products providing financial protection for families and beneficiaries upon death, including term and whole life options.
• Auto Insurance Vehicle insurance coverage for cars, trucks, and other motorized vehicles protecting against accidents, theft, and damage.
• Business Chequing Accounts Business chequing accounts designed for small businesses and commercial operations with transaction and cash management features.
• Business Savings Accounts Business savings products for accumulating reserves and managing business finances with competitive interest rates.
• Community Accounts Specialized banking accounts for non-profit organizations, charities, and community groups with tailored features and benefits.
• Business Credit Cards Credit card products designed for business use with expense management, rewards, and purchasing controls.
• Business Loans Commercial lending products including term loans for equipment, working capital, and business expansion needs for SMB members.
• Business Lines of Credit Revolving credit facilities for businesses providing flexible access to capital for operational needs and opportunities.
• Business Mortgages Commercial mortgage products for purchasing, refinancing, or developing commercial real estate properties.
• Business Insurance Commercial insurance coverage protecting businesses against liability, property damage, and operational risks.
• Farm Insurance Specialized insurance products for agricultural operations including coverage for livestock, equipment, buildings, and crop-related risks.
• Online Banking Web-based digital banking platform providing 24/7 access to account management, bill payments, fund transfers, e-Statements, and partner account linking for personal and business members.
• Mobile Banking App Native mobile banking application for iOS and Android devices offering account access, bill payments, e-Transfers, account management, Deposit Anywhere remote cheque capture, biometric login, and appointment booking.
• Surcharge-Free ATM Network Access Surcharge-free ATM access across Canada through EXCHANGE and ACCULINK networks with over 4,500 ATMs, plus access to 40,000+ Allpoint ATMs in the United States.
• Telephone Banking (Contact Centre) Phone-based banking service available Monday to Friday 8am-8pm and Saturday 8am-4pm, providing account inquiries, transactions, and advisor connections.
• Branch Banking In-person banking services at branches in Salmon Arm (Downtown and Uptown), Sicamous, Sorrento, and Enderby, including commercial banking, wealth management, and insurance services.
• International Transfers Self-serve international money transfer service powered by AFL International Transfers (Agility Forex), integrated into online banking and mobile app, with transfers from $10 to $25,000 delivered in 1-2 business days, AES 256-bit encrypted and FINTRAC-regulated.

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature7 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• AFL International Transfers (Agility Forex)coreTechnology or IntegrationAFL International Transfers (also referred to as Agility Forex) is a Canadian fintech company that provides the international money transfer functionality within SASCU's online banking and mobile app. Members can send international transfers up to $25,000 using live exchange rates with 1-2 business day delivery. The service uses AES 256-bit encryption and is provided through a FINTRAC-regulated entity.
• QTrade Direct InvestingcoreTechnology or IntegrationQTrade is an investment platform partner allowing SASCU members to link their QTrade investment accounts to their SASCU online banking for unified account viewing and single sign-on access. Members can access direct investing and guided portfolio services through this partnership.
• Credential Asset ManagementcoreTechnology or IntegrationCredential Asset Management is an investment services partner that allows SASCU members to link their Credential accounts to online banking. Members can view their Credential holdings within SASCU's platform, though Credential does not support single sign-on functionality.
• Collabria (Mastercard)coreTechnology or IntegrationCollabria provides SASCU-branded Mastercard credit cards for personal and business members. The partnership enables card issuance, processing, and support, with cards viewable and manageable through SASCU's online and mobile banking with single sign-on access.
• EXCHANGE NetworkcoreTechnology or IntegrationThe EXCHANGE network provides surcharge-free ATM access for SASCU members across Canada. Members can use ATMs displaying the EXCHANGE sticker without incurring additional fees.
• ACCULINK NetworkcoreTechnology or IntegrationACCULINK is a national ATM network providing ding-free (surcharge-free) ATM access for SASCU members across Canada, complementing the EXCHANGE network.
• Allpoint (US ATM Network)coreTechnology or IntegrationAllpoint provides access to over 40,000 surcharge-free ATMs in the United States, allowing SASCU members to access cash while traveling without foreign ATM fees.
• InteraccoreTechnology or IntegrationInterac provides the payment network for Interac e-Transfers, Autodeposit, and contactless debit payments (Interac Flash) accepted at merchants across Canada. SASCU offers free Interac e-Transfers for personal and business accounts.
• Do Some GoodcoreGTM or Marketing PartnerDo Some Good is an online platform that connects SASCU with community organizations for its community support programs. Organizations must create profiles on Do Some Good to apply for donations, grants, and sponsorships. The platform also helps organizations manage events, volunteers, and community engagement.
• TransUnionsupportingTechnology or IntegrationTransUnion provides identity authentication tools used by SASCU during account opening and for the self-serve password reset feature. The authentication helps verify member identity using information on file.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BlueShore Financial: BlueShore Financial is a BC-based credit union serving the North Shore, Sea-to-Sky, and surrounding areas with wealth-focused banking, lending, and advisory services. Comparable to SASCU as a community-oriented BC credit union with a similar full-service offering.
• Vancity: Vancity is British Columbia's largest credit union, serving members across the province with personal and business banking, lending, wealth, and insurance. It is directly comparable to SASCU as a BC-based member-owned cooperative with community focus and a similar product suite.
• Coast Capital Savings: Coast Capital Savings is one of Canada's largest credit unions by membership, operating in BC with full banking, lending, investment, and insurance products. Directly comparable to SASCU as a BC-based member-owned cooperative competing for similar personal and business banking relationships.
• First West Credit Union: First West Credit Union operates multiple community-branded divisions (including Valley First in the BC interior) across western Canada. Directly comparable to SASCU as a BC-based cooperative credit union with similar community-led operating model and product breadth.
• Interior Savings Credit Union: Interior Savings Credit Union is a BC interior-based cooperative serving the Okanagan, Similkameen, and Thompson regions with personal and business banking, lending, wealth, and insurance. Closely comparable to SASCU in size, geography, member-owned structure, and rural/regional community focus.

Broad incumbents

• Tangerine: Tangerine is a direct bank owned by Scotiabank offering online chequing, savings, mortgages, lending, and investment products nationally. Comparable to SASCU as a competitor for deposits, mortgages, and everyday banking, but operating entirely digitally at a much larger national scale.
• Meridian Credit Union: Meridian is one of Ontario's largest credit unions, offering full personal and business banking, lending, wealth, and insurance. Comparable to SASCU as a member-owned cooperative with comprehensive product suite, but operating at a much larger provincial scale.
• Desjardins Group: Desjardins Group is the largest cooperative financial group in Canada, operating across Quebec and Ontario with full banking, insurance, and wealth services. Comparable to SASCU as a member-owned cooperative model with broad community focus, though at a vastly larger national scale.

Regional players

• Alterna Savings: Alterna Savings is a member-owned credit union serving Ontario and select national segments with personal and business banking, lending, and wealth services. Comparable to SASCU as a cooperative credit union with community focus, though operating in a different geography (Ontario vs. BC).
• Northern Savings Credit Union: Northern Savings Credit Union serves northern British Columbia communities with personal and business banking, lending, and wealth services. Comparable to SASCU as a smaller, geographically concentrated BC credit union with similar community-focused operating model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCI5o10jYrUmBy3jE0Oh5AmA
• Facebookfacebook.com/SASCUfinancialgroup
• LinkedInlinkedin.com/company/salmon-arm-savings-and-credit-union
• Instagraminstagram.com/sascufinancialgroup

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Salmon Arm Savings And Credit Union